Usual Media Signs Business Agreement on Cultural Content (Webtoon) with Barunson Labs

- Prospects for the Activation of the 'Cultural Content Trading Platform'
- Usual Media Accelerates Content Business Following Webtoon Production

[(Left) Barunson Labs Director Jeong Gu-in, Manager Park Jae-ha, Usual Media CEO Min Sung-wook, Webtoon Industry Association Advisor Yoon Young-sik (Right) / Photo by Usual Media]

Global webtoon content producer Usual Media announced on the morning of the 7th that it signed a Memorandum of Understanding (MOU) for mutual cooperation regarding the cultural content trading platform business with Barunson Labs, a subsidiary of the global content specialist company Barunson, at Barunson Labs' conference room.

Content Specialist Development and Operation Company ‘Barunson Labs’

‘Barunson Labs’ combines technology and culture, with strengths in content liquidity and sourcing/production capabilities. As Barunson Group’s blockchain subsidiary, it operates the art trading platform nPlanet, a content market, and is expanding its scope by integrating games, movies, and webtoons to create a unique new cultural content ecosystem.

The webtoon content business agreement with global webtoon producer Usual Media is expected to serve as an opportunity to demonstrate an advanced business model for content business expansion, including the platform exchange’s game and movie content.

Expanding Interest to Cultural Content Platforms. Expectations for Usual Media’s Future Development

Usual Media has established its own studio and has been producing webtoons of various genres, as well as planning and distributing content. In 2022, it secured a Series A investment of 3.6 billion KRW from NHN, and since the investment, it has shown remarkable external activities and noticeable business expansion.

In February, it signed an IP webtoon project agreement with Hashlink, a subsidiary of a Japanese game company, and a service agreement with AI development specialist ‘NaeStyle’ for an AI webtoon coloring engine and web novel creation. Actual projects are currently underway. Following this, it signed an MOU related to the cultural content trading platform business, focusing on further expanding the business model of web content encompassing webtoons and web novels. Additionally, it is continuing broad efforts in IP acquisition and talent development, including an upcoming family agreement ceremony with Chung-Ang University Graduate School of Advanced Imaging Science in March.

‘Usual Media’ and ‘Barunson Labs’ stated that from the signing ceremony onward, their purpose is to realize business cooperation in operating the ‘cultural content trading platform,’ designating the following as areas of cooperation: ▲ collaboration on investment and planning of webtoon content through the cultural content trading platform ▲ cooperation in distribution of webtoon content produced through the cultural content trading platform ▲ cooperation in businesses related to the ‘cultural content trading platform.’

Kim Yoo-chang, Director of Usual Media, said, "To enter a new era of the webtoon industry, we hope to conduct various experiments with Barunson Labs’ blockchain technology together with Usual Media. In particular, we will carry out projects that can make a significant mark on webtoon distribution through the ‘cultural content trading platform.’ We will strive to create another outlet for the webtoon industry."

Park Jae-ha, Director of Barunson Labs, said, “The content trading platform based on distributed ledger technology is preparing to gradually expand its scope starting with movies. Recently, webtoons, which are growing the fastest and hold a global advantage, will be an opportunity to expand the content trading platform. We will work to become a platform that can provide investors with safe and new products.”